Chairman of the Remuneration Committee
Letter
On behalf of the Board of Directors, I am pleased to provide you with the FY2021 Remuneration Report for which we are seeking your approval at the upcoming annual general meeting.
Our people and management of COVID-19 The safety of our people is always our primary concern and is a key measure of performance at Brickworks. Pleasingly our total recordable injury frequency rate per million hours worked (TRIFR) reduced to 14.3 at 31 July 2021 from 16.3 at 31 July 2020 as we continue to target a reduction of injury rates year on year. The COVID-19 pandemic has created significant uncertainty and has tested Brickworks’ businesses, its people and culture. It is pleasing to note that the Company’s performance has remained strong throughout this challenging period. Our staff have dealt professionally with the risks, impacts and challenges of this unprecedented pandemic for the safety of our employees and in a manner that has meant limited disruption to our workplaces. Brickworks has not accessed the JobKeeper program in any part of its organisation during FY2021.
Operational and Financial Performance Brickworks had another year of strong performance in FY 2021 delivering on several key growth initiatives to support future shareholder value growth. This performance was a direct result of the considerable efforts of our entire Brickworks team, led by our senior executives.
Operational Operationally the company achieved a number of key strategic objectives this year including:
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construction of a $75m Masonry plant; making good progress on the construction of a new $130m face brick plant at Horsley Park; completing upgrades to the face brick plant at Cardup WA; significant plant capital improvement and rationalisation program transitioning from 16 to 10 manufacturing plants in the USA; opening our new design studios in Philadelphia with studios in New York city and Baltimore scheduled to open in the coming months; and
◗ acquisition post year end of Illinois Brick Company the largest independent brick distributor in the USA (acquired on 2 August 2021).
84 p Brickworks Annual Report 2021
